Here are the key factors to keep in mind today for gold trades: Chinese Industrial Profits: China’s industrial sector came under water in June as annualized profits dropped by 0.30%. This dropped the two-month moving average to a gain of just 0.15% as May’s annualized industrial profits remained unrevised at 0.6%. German Import Price Index: Deflation in the Eurozone is set to increase in June with the largest Eurozone economy set to report a contraction of 0.3% in its Import Price Index monthly and 1.3% annualized. Forex traders can...
Here is the key factor to keep in mind today for Euro trades: Eurozone PMI: Forex traders received a very important economic report today out of the Eurozone which gave a snapshot of a major part of the world’s largest economy. Today’s Eurozone PMI was the preliminary PMI and revisions to this data next month cannot be ruled out. The Eurozone Composite PMI was reported at 53.7 for the month of July. This came in below economists’ expectations for a reading of 54.0 and translates into a bigger than expected slowdown from the 54.2 which was...
Here are the key factors to keep in mind today for Australian Dollar trades: Australian CPI: Forex traders received some crucial inflation data out of Australia during the Asian trading session. As the last minutes from the Reserve Bank of Australia have indicated, the Australian central bank is now heavily data dependent for future monetary policy adjustments and inflation reports are among the most important ones. The CPI for the second-quarter rose by 0.7% which can be compared to the 0.2% increase from the previous report. The...
Here are the key factors to keep in mind today for Gold trades: New Zealand Performance Services Index: The New Zealand service sector remained stable despite all the economic worries which have plagued the country. The service sector plays a large role in the domestic economy and today’s report showed that the New Zealand Performance Services Index for came in at 58.2 for June. This is 0.1 point above the 58.1 which was reported in May’s New Zealand Performance Services Index. British Rightmove House Prices: The monthly increase in the UK...
Here are the key factors to keep in mind today for Australian Dollar trades: Australian Westpac Consumer Confidence: The Australian consumer continues to lose confidence as the Westpac Consumer Confidence decreased again. This is a bearish sign for the Australian economy as consumer spending is a key part of the domestic economy. Westpac Consumer Confidence decreased by 3.2% to 92.2 for July. Forex traders can compare this with the 6.9% contraction to 95.3 which was reported for June. A healthy level suggesting strength is a Westpac...